We actively hedge our oil, gas and natural gas liquids production to minimize commodity price risk. We believe that if the economics are good enough to drill the well, then it is wise to lock in those economics and protect cash flow for future drilling, investment, and debt repayment. We primarily utilize swaps to hedge our production. In the near-term (12-24 months), we generally seek to maintain hedges for 100% of production from proved developing producing reserves and a reasonable amount of hedges for expected production from proved undeveloped reserves. Beyond 24 months, we generally seek to maintain hedges for 100% of our proved developed producing reserves, assuming adequate liquidity is available in the market. We think this strategy provides the Company with maximum operational optionality, and positions us to take advantage of opportunities regardless of the direction commodity prices move.